Resolve to Travel for FREE This Year
A quick checklist for how to get your first bonus worth $1,000-$1,200 to spend on travel.
Step 1: Application
Apply for the Chase Ink Preferred. This is a business card and will not show on your credit report. To see how you qualify for this card and exact application steps, see this post: You CAN apply for business credit cards.
It will take about a week for approval and to receive the card.
Step 2: Account Setup
In Chase online banking, send a secure message asking for the cash advance limit to be lowered to $100 (the minimum Chase will allow) so credit card funding will not code as a cash advance.
This request will be processed in about 24 hours.
I also recommend setting up autopay for this card. If you do not pay off the balance of your credit card each month, this is not a good hobby for you!
Step 3: Credit Card Funding
Open an account with Premier Members Credit Union and fund it with $1,500 charged to your new credit card. You get a bonus $50 here as well! And this account earns 4% interest.
Credit card funding is the easiest way to meet a minimum spend without any cost — you are not spending any money.
If you have a P2, they can open this account as well.
Look for more accounts in your are that can be funded with a credit card. Example: AgFed in DC can fund 6 separate accounts with $1,500.
Step 4: Pay Your Rent
Use your regular bills to easily meet a minimum spend requirement, even if the companies don’t allow payment via credit card.
Plastiq lets you pay almost any bill with a credit card. You schedule the payment and they send a check out after billing your credit card. There is a 2.5% fee but you can get your first $500 fee free when you use my referral code.
Future Steps
- Refer yourself to a second CIP
- Earn a steady stream of UR
- Take advantage of other Chase business cards
- Get the Chase Sapphire Reserve and increase your stored UR value to 1.5x.
